Axis Bank, the country’s third largest private sector lender, has cut its base rate by 10 basis points (bps) to 9.85 per cent. The new rates will be effective from June 30. Base rate is the benchmark rate to which all rates are linked.

In April, Axis Bank had cut the base rate by 20 bps from 10.15 per cent to 9.95 per cent. Prior to this, the lender had reduced its base rate by another 10 bps last October.

HDFC Bank has projected India's gross value added (GVA) to grow by 7.8 per cent in 2015-16 if the monsoon rain is better than projected by the weather department. And, 7.2 per cent if it is as scanty as predicted.

The GVA rose 7.2 per cent in 2014-15 and 6.6 per cent in 2013-14. It is not the same as gross domestic product (GDP). GDP is GVA plus indirect taxes.

The Indian Railway Catering and Tourism Corporation will install five high-capacity servers, imported from Singapore, to speed up its e-ticketing operations.

The initiative to import five new servers from Singapore comes close on the heels of introduction of two new high-speed servers by IRCTC to Passenger Reservation System (PRS) earlier this month, which have doubled the peak-time efficiency for booking tatkal tickets at the railways’ ticketing website.

NEW DELHI: Hinduja Group's flagship company Ashok Leyland today said its light commercial vehicle (LCV) 'Dost' has crossed one lakh sales mark.

In less than three years since Ashok Leyland and Nissan formed a joint venture to manufacture LCVs, the company has rolled out the 1,00,000th unit of Dost, Chennai-based Ashok Leyland said in a statement.

Sony unveiled the much awaited Xperia Z3+ for a price tag of Rs 55,990/- on Frday at an interactive session in New Delhi.

Taro Yamamoto, Head of Experia Business at Sony India reminded the audience of the success of Z3 and announced that Z3+ offers excellence in camera, audio and display. Lighter, slimmer and faster, the Z3+ is just 6.9 mm in width. Water proof and shock resistant, Yamamoto claimed the Z3+ can survive up to two days without charging.

Axis Bank-country’s third largest private sector lender-has cut base rate by ten basis points to 9.85%. The new rates will be effective from June 30th. Base rate is the benchmark rate to which all rates are linked.

Earlier, in April, Axis Bank had cut base rate by 20 basis points from 10.15% to 9.95%. Prior to this, the lender had reduced its base rate by another ten basis points in October last year.

The Securities and Exchange Board of India (Sebi) has concluded its final hearing in the matter of Reliance Industries and Reliance Petroleum merger, sources have said.

In the matter spanning for eight years the regulator would look to pass a final order in the matter under the charges of Fraudulent and Unfair Trade Practices (FUTP).

Shares of Reliance Communications have moved higher by 8% to Rs 62.95, bouncing back 11% from intra-day low on the BSE after multiple block deals were executed in the counter.

At 1208 hours, around 42.45 million shares have changed hands at price of Rs 58.35 on the BSE, the exchange data shows.

You may know Alibaba for its huge e-commerce business in China and the record-breaking U.S. IPO that it held last year. But there’s a lot more to the Hangzhou-based company than that, and, as of this week, that includes an online bank.

Alibaba-backed MYbank opened Thursday with a promise to provide services “for the little guys.” The service is an all-digital bank, it has no physical branches but is open 24/7. It is aimed at those who tend to end up a little short changed by the existing banking system — SMEs who struggle to fit into a financial bracket for loans and services, and those in rural areas who have issues accessing branches and banks in person.

New Delhi: The Aam Aadmi Party (AAP)-led Delhi government took a step to delivering on its election promise with its first budget focusing on education as a key priority. In the run up to election, the AAP had released a 70-point agenda focusing on education, health, women security and governance.

The government on Thursday more than doubled the allocation for education in the budget for the year to next 31 March and refrained from imposing any new taxes.

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